The fabric is, I believe, called Coolmax (Dupont trademark - example of better living through chemistry, I guess :). The fabric seems to be available from several sources (including Travelsmith) and isn't all that expensive.
On a side note, my son just took my shirt into the back yard for testing, got it soaked, and walked around in the air. His response, "It's nice, I want one."
PFD's (Life Jackets)
Wall Mount Boat Racks
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